Dogecoin (DOGE) Price Analysis: Can the Coin Retest $0.09?

• Sellers continue to dictate the momentum, suggesting a decline to $0.071.
• The OBV on the 4-hour chart stalled, indicating a lack of buying pressure.
• If bulls defend the support at $0.076, then DOGE might jump above $0.083.

Dogecoin (DOGE) looked bearish on the 4-hour chart analyzed from TradingView. From the chart, DOGE has struggled to breakout of the $0.080 region. This inability to climb past the region pushed down its price as it fell to $0.795.

If a breakout happens, DOGE might climb to $0.083 in the short term. But from a bearish perspective, the price of DOGE might close below $0.076. Dogecoin’s price in the last 30 days has decreased by 3.81%, CoinMarketCap showed.

DOGE/USD 4-Hour Chart 

The decrease reflects how sellers have been controlling the narrative for most of the new year. Furthermore, indications from the Awesome Oscillator (AO) showed that the reading was negative.

The reading signaled increasing downward momentum which could pull down DOGE’s price. If the next histogram bar on the AO drops lower than the last, then bears might dictate the coin’s momentum.

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